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Re: JRPac post# 412907

Sunday, 07/23/2023 3:11:34 PM

Sunday, July 23, 2023 3:11:34 PM

Post# of 424029
JRPac, I wanted to respond because you are correct. I jumped from buybacks to dividends inadvertently. It doesn't change the fact that buybacks use the same principle.
Key Aspects of a Share Buyback:
-This type of transaction is only used when the company is purchasing the shares from the shareholder and there is an exchange in money (nominal value at least).
-Shares can only be purchased by the company out of its distributable profits.
-Shares can be bought back at a premium.
-This process requires a special resolution.
When bought back, the shares are either cancelled or held as treasury shares.
Covered by Companies Act 2014 and Taxes Consolidation Act 1997.
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